Bloodbath on US Financial Markets Continues

Bloodbath on US Financial Markets Continues

XTB, the CFD and cryptocurrency trading platforms, identifies the continued downward movement of the U.S financial markets and their global implications.

XTB, the online CFD and trading platform, identifies the continued strain on the US financial markets. There has been continued heavy selling pressure on almost all US indices, led by tech and financial stocks. USFANG, (the biggest stocks in the tech space – Facebook, Amazon, Netflix, and Alphabet) is down 4.5%, 3.5%, and 2.4%. Many traders are putting the blame on Softbank, the Japanese banking and financial organization that apparently amassed many call options on US tech stocks. These market swings may also be affecting the cryptocurrency market, as there is a correlation between the stock market and the performance of the cryptocurrency market. With continued global uncertainty, both traditional financial markets and even the cryptocurrency market can be affected as entities search for the safest store of value for their assets.

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